When I reviewed Hayek's book, The Pure Theory of Capital, it is my sincere conviction that this work contains some of the most penetrating thoughts on the subject that have ever been published. — Fritz Machlup Copy Share Image
When I reviewed Hayek's book, The Pure Theory of Capital, it is my sincere conviction that this work contains some of the most penetrating… — Fritz Machlup Copy Share Image
If we did not have a patent system, it would be irresponsible, on the basis of our present knowledge of its economic consequences, to… — Fritz Machlup Copy Share Image
Information is acquired by being told, whereas knowledge can be acquired by thinking. — Fritz Machlup Copy Share Image
The danger of tautological propositions is considerable in discussions of the concept of normal profits. Because supernormal profits seem to invite newcomers to an… — Fritz Machlup Copy Share Image
One of the most original and most important ideas advanced by Hayek is the role of the 'division of knowledge' in economic society. — Fritz Machlup Copy Share Image
